Internet of things is spreading their wings in every sector
and healthcare is one of them. Internet of things offers various benefits in
healthcare sectors such as improved medical care, reduced overall cost, better
efficiency and also minimized human errors. Moreover, internet of things in
healthcare is also improving relation between patient and doctor by offering
better communication medium. Internet
of things in healthcare sector has been helping hospitals and clinics to
keep their patient safe and healthy. Further, hospitals and clinics can use
internet of things to keep track of inventory. Fetal monitors,
electrocardiograms, temperature monitor, blood and glucose level monitor are
some of the important internet connected devices which have helped the doctors
enormously to keep their patients safe and healthy.
Market
Size & Forecast
Global internet of things in healthcare market is
anticipated to flourish at a compound annual growth rate (CAGR) of 32.2% over
the forecast period i.e. 2017-2024. The global market of internet of things in
healthcare stood at revenue of around USD 42.7 Billion in 2016 and is expected
to reach at a valuation of about USD 162.2 Billion by the end of 2024.
Increasing expenditure in healthcare sector and technological advancement in
internet of things are some major factors which are fostering the growth of
global internet of things in healthcare market during the forecast period.
In terms of region, global internet of things in healthcare
market is segmented into five major regions including North America, Europe,
Asia Pacific, Latin America and Middle East & Africa region. Among these
regions, North America is dominating the global market of internet of things in
healthcare due to the availability of advanced medical healthcare sector and
higher healthcare expenditures in the region. Further, North America region is
expected to retain its leading position over the forecast period.
Asia Pacific region is expected to be the fastest growing
market of internet of things in healthcare over the forecast period. This rapid
growth of Asia Pacific region can be attributed to factors such as increasing
disposable income of consumers, expanding investment in research &
development of healthcare sector and emergence of new advanced IT-healthcare
services in this region. India and China are expected to be major contributors
to the growth of internet of things in healthcare due to increasing medical
tourism and rising demand for smart wearable medical devices.
Market
Segmentation
Our-in depth analysis of the global internet of things in
healthcare market includes the following segments:
By
Component
·
Medical Devices
·
System & Software
·
Service & Hardware
·
Connectivity Technology
By
Technology
·
Bluetooth Low Energy (BLE)
·
Wi-Fi
·
Zigbee
·
Near Field Communication
·
Cellular
By
Application
·
Clinical operations
·
Telemedicine
·
Inpatient Monitoring
·
Medication Management
·
Connected Imaging
·
Work Flow Management
By
Region
Global smart wearable device market is further classified on
the basis of region as follows:
·
North America (U.S. & Canada) Market size,
Y-O-Y growth & Opportunity Analysis
·
Latin America (Brazil, Mexico, Rest of Latin
America) Market size, Y-O-Y growth & Opportunity Analysis
·
Europe (U.K., Germany, France, Italy, Spain,
Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size,
Y-O-Y growth & Opportunity Analysis
·
Asia-Pacific (China, India, Japan, Singapore,
Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth &
Opportunity Analysis.
·
Middle East and Africa (GCC, North Africa, South
Africa and Rest of Middle East) Market size, Y-O-Y growth & Opportunity
Analysis.
Growth
Drivers & Challenges
Global internet of things in healthcare market is primarily
driven by the factors such as increasing expenditures in research and
development of healthcare sector and increasing disposable income of the
consumers. Further, rising demand
for internet of things in health care sector due to their beneficial
abilities such as batter care of patients and tracking of inventory coupled
with technological advancement in internet of things are expected to foster the
growth of global internet of things in healthcare market over the forecast
period. Additionally, increasing penetration of critical diseases like cancer
is propelling the demand for internet of things in healthcare sector in order
to provide better treatment to the patients. Moreover, use of internet of
things in medical processes like telemedicine and impatient monitoring are
expected to propel the growth of this market in near future.
Further, rising adoption of smart devices including smart
wearable medical devices, health tracking devices is likely to foster the
growth of internet of things in healthcare market in near future.
However, lack of governance standards in internet of things
and skilled internet of things technicians are expected to hinder the growth of
internet of things in healthcare market. In addition to this, internet of
things in health care comprises of number of internet connected things which
receive and transmit data in real time. Moreover, lack of data standards and
data security related issues are some major factors which are hampering the
growth of global internet of things in healthcare market.
This
report also provides the existing competitive scenario of some of the key
players of the global internet of things (IOT) in healthcare market which
includes company profiling of Medtronic PLC, Koninklijke
Philips N.V., Cisco System Inc., IBM Corporation, GE Healthcare, Microsoft
Corporation, SAP SE, Qualcomm Life Inc., Honeywell Life Care Solution, Stanley
Healthcare. The profiling enfolds key information of the companies which
encompasses business overview, products and services, key financials and recent
news and developments. On the whole, the report depicts detailed overview of
the global internet of things (IOT) in healthcare market that will help
industry consultants, equipment manufacturers, existing players searching for
expansion opportunities, new players searching possibilities and other
stakeholders to align their market centric strategies according to the ongoing
and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read More Info: https://www.researchnester.com/reports/internet-of-things-iot-in-healthcare-market-global-demand-analysis-opportunity-outlook-2024/376
Contact for more
Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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